Ecopetrol SA Stock Forecast
Ecopetrol SA stock price ended at $11.85 on Friday, after gaining 1.80%.
(Updated on Apr 26, 2024)
The Ecopetrol SA stock price gained 1.80% on the last trading day (Friday, 26th Apr 2024), rising from $11.64 to $11.85. During the last trading day the stock fluctuated 1.80% from a day low at $11.65 to a day high of $11.86. The price has fallen in 6 of the last 10 days but is still up by 1.28% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 211 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $15.74 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Ecopetrol SA stock with a 90% probability to be traded between $10.29 and $12.67 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
EC Signals & Forecast
The Ecopetrol SA stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $11.62 and $11.46. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 4.50%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Ecopetrol SA stock
Ecopetrol SA finds support from accumulated volume at $11.84 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.210 between high and low, or 1.80%. For the last week, the stock has had daily average volatility of 1.71%.
Our recommended stop-loss: $11.28 (-4.84%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (EC) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Ecopetrol SA to open at $11.79, and during the day (based on 14 day Average True Range), to move between $11.55 and $12.15, which gives a possible trading interval of +/-$0.305 (+/-2.57%) up or down from last closing price. If Ecopetrol SA takes out the full calculated possible swing range there will be an estimated 5.14% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $11.84 (0.08%) than the resistance at $12.13 (2.36%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Ecopetrol SA stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Ecopetrol SA stock to perform well in the short-term period.
Current score: 1.113 Buy Candidate Unchanged
Predicted Opening Price for Ecopetrol SA of Monday, April 29, 2024
Fair opening price April 29, 2024 | Current price |
---|---|
$11.79 ( 0.534%) | $11.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EC
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 12.00 | 1.24 % | |
R2 | 11.92 | 0.561 % | ||
R1 | 11.87 | 0.143 % | ||
Current price: | 11.85 | |||
Support | S1 | 11.71 | -1.21 % | |
S2 | 11.66 | -1.63 % | ||
S3 | 11.58 | -2.31 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 12.89 | 8.78 % | |
R2 | 12.70 | 7.17 % | ||
R1 | 12.13 | 2.36 % | ||
Current price | 11.85 | |||
Support | S1 | 11.84 | -0.0844% | |
S2 | 11.36 | -4.14% | ||
S3 | 10.77 | -9.11% |
EC Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jun 25, 2024 | Jun 25, 2024 | Jul 03, 2024 | $0.800 | 6.75% |
2 | Jun 24, 2024 | Jun 24, 2024 | Jul 03, 2024 | $0.800 | 6.75% |
3 | Mar 26, 2024 | Apr 04, 2024 | Apr 10, 2024 | $0.800 | 6.76% |
4 | Mar 08, 2023 | Dec 19, 2023 | Dec 29, 2023 | $0.83 | 6.96% |
5 | Mar 08, 2023 | Sep 26, 2023 | Dec 29, 2023 | $0.83 | 6.94% |
FAQ
Click here for our free guide on how to buy Ecopetrol SA Stock.